Drivers for farmland value revisited
Adapting the returns discount model (RDM) to the sustainable paradigm
Bibliographic Data
| ID | 15067931 |
|---|---|
| Authors | Bazyli Czyżewski (0000-0002-6324-2723, Poznań University of Economics and Business, corresponding author), Piotr Kułyk (0000-0003-2786-4020, University of Zielona Góra), Łukasz Kryszak (0000-0001-8660-9236, Poznań University of Economics and Business) |
| Year | 2019 |
| Volume | 32 |
| Issue | 1 |
| Pages | 2080-2098 |
| Publication date | 2019-01-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2019.1642778 |
| OpenAlex | W2964401205 |
| Language | EN |
| Citations received | 1 |
| References cited | 48 |
In recent studies many researchers have identified non-agricultural attributes of land that significantly contribute to its value. They claim that the increasing proportion of the value of land may now be explained by environmental amenities in rural areas. On the other hand, mainstream economics says that farmland values are determined by the discounted stream of returns (present value model). The main aim of this work was to adapt neoclassical concept of the Returns Discount Model (RDM) of Saphiro–Gordon type to the case of a land market in Poland. We introduced a modified RDM (i.e. the multilevel variance component model) to answer whether it remains applicable to the valuation of farmland in the context of sustainable agriculture. It was found that in spite of the growing role of non-productive functions of agriculture the improved RDM continues to perform well as a tool to assess changes in land prices
Agricultural economics · Agricultural land · Agriculture · Economics · Environmental economics · Geography · Natural resource economics · RDM · Statistics · Sustainability · Sustainable Value · Agricultural economics and policies · Agricultural Economics and Policy · Computer Science · Economics of Agriculture and Food Markets · Mathematics · Ecology
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| Citations per year | 0.17 |
|---|---|
| Citation span | 2020 - 2020 (1) |
| Highly cited | No |